Time For J P Morganopolopoulos To Reach Out To Greece.

NEW YORK, NY - MAY 14: Pedestrians walk by a sign outside of a JPMorgan Chase office on May 14, 2012 in New York City. Following a $2 billion trading blunder, JPMorgan Chase's chief investment officer Ina Drew retired and will be succeeded by Matt Zames, an executive from JPMorgan's investment bank. At least two others are also being held accountable for the mistake. (Image credit: Getty Images via @daylife)

In 2010, President Obama (before his corruption was complete) signed the "Healthy, Hunger-Free Kids Act." The bill catered for $4.5 billion to child-nutrition programmes until 2020, and put in place nutrition standards in American schools. As the Daily Beast puts it, ‘It received bipartisan support, and was hailed as a compassionate victory for America’s poorest children.’

But the tentacles of Morgan the Piratical Octopus are infinite in length. For the Bill described above mandated that all state agencies implement Electronic Benefit Transfer (EBT) systems for those receiving money through the Act when it became law. And J P Moran Chase administers some 46% of all EBT programs in the United States.

American big business does well out of welfare. According to the website of the US Agriculture Department - which oversees the food stamp program- three companies administer the bulk of EBT card programs in 49 states. JP Morgan Electronic Financial Services, Inc. (a subsidiary of JP Morgan Chase); Affiliated Computer Services (ACS), asubsidiary of Xerox, has 15 state contracts. And eFunds Corporation, a subsidiary of Fidelity National Information Services handles the EBT cards.

So no matter how bad things get on the rocky road to Buddy Can You Spare a Dime, JPM and its mates seem set to win out. Mind  you, there is always a Cost of Sales to take into account. Since 2002, JP Morgan’s political donations to members of the House and Senate agriculture committees have been on a steady climb upward. This has paid dividends: 18 of the 24 states mandated by the Act to work within EBT have been contracted to pay Morgan some $560,492,596.02 since 2004.

For those who are hard of adding, that’s just over half a billion bucks.

So it can only be a matter of time before Morgan the Pirate sets up shop in Greece. For there, unemployed, uninsured and bankrupt parents cannot hide the despair in their eyes because they cannot afford even the basic necessities for their children. Food, clothing and school supplies have become luxury items to hundreds of thousands of Greek families.

Doctors working in emergency clinics take care of Greek children living in extreme poverty. Gradually, they have learned to push aside their emotions. But a pharmacist from the free clinic explained, “If you permit me to express myself in a loud voice of agony – We are going to run out of medicines. And as time goes on we will be able to offer less and less services to the most vulnerable people.”

Sounds to me like a job for Pirateman.

He holds back the poor entrepreneur, bankrupts the rich State, and charges the bloated bureaucracy for the privilege of administering alms to the poor.

Is JP Morgan not a Saint?

Verily I say unto you, “Blessed are they who target the very poorest at the bottom, for they shall inherit the bottom line.”

The Slog